MIT and EPFL Innovation eco-systems

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28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 1

Can US innovation processes be adapted in Europe ?

MIT Entrepreneurial Ecosystem

MIT Entrepreneurial impact

• 25,800 active companies founded by MIT alumni • Employ about 3.3 million people • Generate annual world sales of $2 trillion• Equivalent of the 11th-largest economy in the world.

Source : Edward B. Roberts and Charles Eesley, MIT Sloan , February 2009

MIT Venture Mentoring ServiceGoals

• VMS is based on the belief that:a venture is more likely to thrive when an idea, a good business plan and an entrepreneur are matched with proven skills and experience.

• Highly qualified mentors find it compelling and rewarding.

• Both mentors and entrepreneurs benefit.• Mentoring works best when un-biased and no

strings attached.

Jerome Smith, Co-Director, vmsoutreach@mit.edu

MIT Venture Mentoring ServiceExpectations• Mentors

– 1-2 days of mentoring each month (minimum)

– Attend Monthly Review Meetings– Discretion and confidentiality– Adherence to guidelines– Role

• Listen• Advise• Suggest• Anticipate• Troubleshoot• Supply Contacts• Role Model

• Entrepreneurs– Serious about learning, making

progress– Prepared – do homework and

submit agenda + materials– Keep in regular communication –

be responsive – Give us the whole story– Don’t come to us purely for $$$ or

connections

MIT Venture Mentoring ServiceResults• 133 mentors of record• 107 mentors• 56% with an MIT background• Most with startup experience• Broad range of:

– backgrounds– motivations– technical + industry

expertise– business expertise

• 238 ventures of record• 98 active ventures• 50 launched/executing• 6 liquidity events• Various stages of funding -

over $520M raised• Every field imaginable

MIT Venture Mentoring ServiceProcess

Team(s) Member

Interview

Sign UpParticipate in

Mentoring Sessions

Attend Monthly Review

Meetings

Mentor Orientation

Lead Mentor

Special Office Projects

Intake Specialist

Mentor Specialist

ExempleEPFL alumnis

European example : EPFL environment250 Laboratories

Coaching

Incubator90 150 on site

Networking>14’000 alumni in 110

countries• Sections : CH, F, USA, P,

China…

Events•Alumni day (Mondial)•Innovation days

~60 alumni in synergy with other playersAlumni bring different skills and experiences

Education>10’000 on campus

>25’000 with University

Source : PSE, A3

A3 Angels and EPFL collaboration

A3 Angels members and EPFL students support each other

Source : Prof. Jean Micol, MoT

Who are A3 alumni : role models

Source : Herve Lebret, EPFL

A3 Angels mentors : work with CTI coaches

• Idea• Business

Advise

3 weeks 4-6 weeks 6-18 months

• High-Tech?• Innovative?• In right area?

• Market• Technology• Management

• Business plan• B-Development• Training

• Contracts• Funding

Check Evaluation Coaching Arms length coaching

• Idea• Business

Advise• Business• Network

Mentor• Seed funding• Network

Support

> 40 CTI professional coaches with entrepreneurial experience

A3 volunteer mentors with professional experience

>24 mo.

Source : CTI + A3

Who are A3 Angels ?

Members A3 Senior Angel A3 Micro Angel>30 members40+ years old Active professionals>

> 20 CHF x 3 year pooled seed

Reserve employeesActive business

development network

Profile < 20 Successful entrepreneurs Senior managers active or retired

Contribution MentoringIndividual investments > 50KCHFSweat

Motivation MentoringRelationships

TechnologiesInterest in region

Sharing expertiseLong-term money

Entrepreneurs interestInterest in technology

Let’s team-up to win togetherPhoto credit: Th.Martinez, Alinghi